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Determining Economic Contributions and Impacts: What is the difference and why do we care?

Author

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  • Watson, Philip
  • Wilson, Joshua
  • Thilmany, Dawn D.
  • Winter, Susan

Abstract

Economic contribution and impact studies are common tasks for regional economists, but the semantics of the discipline suffer from a lack of standardization with respect to dif-ferences between economic contributions, impacts and benefits. These terms refer to 3 dis-tinct metrics which are useful for answering different questions and each has situations when their use is appropriate. This article provides a pedagogical and methodological framework for how and when these terms should be applied in the context of regional eco-nomic analysis. Past studies are reviewed and a standardized semantic is presented. It is recommended that economists working in this field use a more explicit and unified termi-nology and methodology when conducting regional economic analysis.

Suggested Citation

  • Watson, Philip & Wilson, Joshua & Thilmany, Dawn D. & Winter, Susan, 2007. "Determining Economic Contributions and Impacts: What is the difference and why do we care?," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 37(2), pages 1-7.
    • Handle: RePEc:ags:jrapmc:132414
    DOI: 10.22004/ag.econ.132414
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    References listed on IDEAS

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    1. repec:rre:publsh:v:34:y:2004:i:1:p:57-71 is not listed on IDEAS
    2. Stephan Weiler, 2000. "Pioneers and Settlers in Lo-Do Denver: Private Risk and Public Benefits in Urban Redevelopment," Urban Studies, Urban Studies Journal Limited, vol. 37(1), pages 167-179, January.
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    Keywords

    Financial Economics; Productivity Analysis;

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